The week of Oct. 22 through Oct. 26 is expected to be loaded with quarterly results of large and midsize U.S. banks and thrifts. Below are some of the highlights:
Zions Bancorp. NA is expected to report third-quarter earnings after markets close on Monday, Oct. 22. The Salt Lake City-based company recently completed its restructuring in September, shedding its designation as a systemically important financial institution. The S&P Global Market Intelligence consensus estimate for normalized third-quarter 2018 earnings per share is 96 cents, higher than the 72 cents EPS the company reported in the 2017 third quarter.
On Tuesday, Oct. 23, Fifth Third Bancorp, Regions Financial Corp., Huntington Bancshares Inc. and CIT Group Inc. are all slated to announce results in the morning, while Capital One Financial Corp. is expected to report results after markets close. Analysts expect Regions Financial, Huntington Bancshares and Capital One to report higher earnings than the year-ago quarter. Conversely, analysts expect CIT Group and Fifth Third to report a year-over-year decline in earnings.
New York Community Bancorp Inc. and Popular Inc. are the biggest banks expected to announce quarterly scorecards Wednesday morning, Oct. 24. Analysts expect New York Community Bancorp to report EPS of 20 cents in the third quarter of 2018, a cent lower than the company's year-ago 21 cents per share. New York Community Bancorp's management said during a July 25 second-quarter earnings call that the company is looking for a deal. "We are, in fact, actively discussing with any number of people, the possibilities of combinations that will be beneficial to all shareholders," CEO Joseph Ficalora said during the call.
And on Thursday, Oct. 25, SVB Financial Group is expected to report results in the afternoon. Analysts expect the Santa Clara, Calif.-based company to report higher earnings this third quarter from the 2017 third quarter.